Mixed-Use Property with
New
For Sale
$475,000
1742 Fairport Nine Mile Point Rd, Penfield, NY 14526
Zone B property combines residential space, an in-law apartment, garages, and a rear workshop with multiple potential uses.
Property Size1,619 SF
Days on Market3
Property Features for 1742 Fairport Nine Mile Point Rd
General Information
Standard status
Active
Size
1,619 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,375
Building Details
Building Size
1,619 SF
Year Built
1985
Stories
1
Units
1
Listing Agency:
Cornerstone Realty Associates
Listed By:
Paula Priest · License #10301210525
(585) 370-1725
Source:
Elliman
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 13 at 5:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cornerstone Realty Associates
Investment Insights
Based on property information with market context.
Located at 1742 Fairport Nine Mile Point Rd in Penfield, this mixed-use property was built in 1985 and is currently configured as a residence with an in-law apartment in the lower level. Zone B permits residential and non-residential uses, including 2-, 3-, and 4-family housing, townhouses, limited offices, medical offices, insurance, massage, art gallery, and hair stylist uses; specific approvals should be confirmed with the town.
The property includes a rear workshop sized for 2+ cars with a compressor, wood heat, water, and 100-amp service. An attached 2+ car garage has a 220-electric panel. Additional improvements include a new roof, gutters with leaf guards, comfort windows, and solar panels on the south side. The rear area includes 2 acres described as country, with the town indicating that the property behind this one will remain country.
The property includes a rear workshop sized for 2+ cars with a compressor, wood heat, water, and 100-amp service. An attached 2+ car garage has a 220-electric panel. Additional improvements include a new roof, gutters with leaf guards, comfort windows, and solar panels on the south side. The rear area includes 2 acres described as country, with the town indicating that the property behind this one will remain country.
Key Highlights
- Zone B permits residential and non‑residential uses, subject to town confirmation
- In‑law apartment located in the lower level
- Rear workshop for 2+ cars with compressor, wood heat, water, and 100 amp service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,482
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$309,640
$309.6K
Cap Rate 7%
$221,171
$221.2K
Cap Rate 9%
$172,022
$172.0K
Market Conditions
NOI Build-Up for 1,619 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.1K $18.00/SF
− Vacancy
−$4.4K −$2.70/SF
EGI
$24.8K $15.30/SF
− OpEx
−$9.3K −$5.74/SF
NOI
$15.5K $9.56/SF
Area
Monroe County, NY
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$309,640
Cap Rate 7%
$221,171
Cap Rate 9%
$172,022
Alternative Uses
Best Use
Mixed Use
$221.2K
$193.5K – $258.0K
NOI $15,482 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$310.8K
$272.0K – $362.6K
NOI $21,756 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 14526, NY
20,932
Population
8,231
Households
2.5
Avg Household Size
44
Median Age
62%
College-Educated
97%
High-School Grad
16.4 sq mi
ZIP Area
1,276
Density / Sq Mi
$110,566
Median Household Income
$62,334
Median Earnings
$1,168
Median Rent
$256,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Zone B property combines residential space, an in-law apartment, garages, and a rear workshop with multiple potential uses.
Where is this mixed-use property located?
The property is located at 1742 Fairport Nine Mile Point Rd Penfield, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Zone B permits residential and non‑residential uses, subject to town confirmation; In‑law apartment located in the lower level; Rear workshop for 2+ cars with compressor, wood heat, water, and 100 amp service
